Why is there sales tax on my bill?
Sales taxes are levied on the payment based on the jurisdiction that the equipment is located. The lessee is responsible for the taxes.
Why are we paying property tax on leased equipment?
Property taxes are reimbursable under the agreement. Note: In some jurisdictions, the billed property tax may be subject to sales tax.
If I am paying off the lease, why am I being billed property tax for the entire year?
Property tax is charged to the assessable owner as of the legal assessment date. The bill is for the entire year and not pro-rata.
Why does the leasing company file property tax returns on this equipment?
Depending on the jurisdiction and contract type, property taxes are levied on the lessor or lessee subject to the equipment location jurisdiction.
Why do I need to insure the equipment? What are the requirements?
Under the Agreement, you are required to insure the collateral until the account is paid in full. Key things to include are as follows:
- Loss Payee- LCA and/or its Affiliates and/or its Assigns
- Additional Insured- LCA and/or its Affiliates and/or its Assigns
- Coverage needs to be a minimum of the equipment exposure
- Valid expiration date
Can I have my payment drafted electronically?
Yes. To set up the automatic payment draft, there is a form available on our website. This form can also be obtained by contacting us via email at email@example.com or toll free at 888-542-5302.
Can my Agreement be cancelled?
No. The Agreement is non-cancellable. Our Customer Service team is happy to provide a buyout quote to complete the terms of the Agreement.
Can my Agreement be transferred to another party?
Transferring the Agreement to another party is subject to credit approval and the completion of a new contract.
Who do I contact regarding servicing my equipment?
LCA does not service or repair the equipment. For problems with the equipment, contact the vendor/supplier or manufacturer of the equipment.
Can the vendor/supplier alter the contractual terms?
The vendor/supplier of the equipment is not an agent of LCA and has no authority to alter the contract or make representations on behalf of LCA.
How do I change my address?
We have made it convenient by including an address change form right on the website.